20 Centerpointe Dr - Office FOR SALE


La Palma, CA 90623
$17,199,000 USD
949-378-7364
20 Centerpointe Dr, La Palma, CA for Sale
$17,199,000 USD
Office - FOR SALE
1/9
null | 7% Cap Rate

20 Centerpointe Dr
La Palma, CA 90623


HIGHLIGHTS

  • STABILIZED LOW-RISE OFFICE/FLEX OPPORTUNITY IN MID-COUNTIES CAMPUS SETTING

OVERVIEW

STABILIZED LOW-RISE OFFICE/FLEX OPPORTUNITY IN MID-COUNTIES CAMPUS SETTING * High-Image, Campus-Environment Offering | Unique opportunity to acquire a distinguished asset in one of the most dominant business regions in the world. The low-rise asset is located within a campus setting with lush landscaping, recent multimillion-dollar common-area upgrades, and an association lounge space. It offers convenient surface parking, excellent egress/ingress with direct freeway access, and a high-traffic location with high-growth potential. * Ease of Ownership | The NNN leases provide ease of ownership and security from owning in one of the safest real estate markets in the U.S. New ownership enjoys passive, durable cash flow during the investment period. * Strong In-Place Cash Flow with Income Growth | The existing rent roll provides an attractive income stream with annual increases. With only one tenant expiring prior to 2029, the offering provides incredible long-term stability and security. STRONG MARKET FUNDAMENTALS * Favorable Suburban Low-Rise Trends | Over the last decade, growth among low-rise products has been robust, out-pacing high-rise products in vacancy compression and rent growth. This trend is expected to continue into the foreseeable future. * Limited Availability Despite Demand | According to CoStar, the direct vacancy rate for the La Palma/Buena Park office/flex submarket is 6.9% in YTD4Q23, which is below the historical average and with zero new construction in the pipeline. RENOWNED ENTERTAINMENT LOCATION WITH EXPANDING RESORT AMENITIES * Highly Desirable Location | La Palma is a meeting point between Los Angeles and Orange Counties. This central location has convenient freeway access and offers ease of commute for the area’s businesses and tenants, as well an affordable alternative to other costly areas of Southern California. * Multi-Modal Transportation Access | The surrounding multimodal transit hub offers ease of commute for the region’s workforce, as well as proximity to workforce and executive housing. Located immediately off SR-91 freeway, the asset has superb access to I-5 and I-605, as well as Long Beach International Airport and several Metrolink stations.

FOR SALE DETAILS

PRICE

$17,199,000 USD

PRICE/SF

$329 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

140

LAND DETAILS

LAND ACRES

3.48 AC

LAND SF

151,589 SF

ZONING

B-1

APN/PARCEL ID

276-081-52

ASK ABOUT THIS PROPERTY

Anthony DeLorenzoCBRE, Inc.More Info
949-378-7364

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Anthony DeLorenzoCBRE, Inc.More Info
949-378-7364

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.